New Purchase: WFC

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I’ve had my eye on Wells Fargo for a long time as a potential buy. The main reason, is Warren Buffett buys more shares of this company any chance he gets.

Today, I bought 20 shares of WFC at $50.18 per share.

At the time I made this purchase, their PE Ratio was about 12.36. Which is very attractive. Their entry yield is over 3%. Their payout ratio is around 36%, which is pretty low and leaves a lot of room for dividend growth.

This puts me at $544.72/$600.00 for my annual passive income goal for 2016, and $45.39/$100.00 for my average monthly passive income long term goal.

Comments

Good buy hear. WFC has been beaten down along with other financial companies so far this year. WFC is arguably the best U.S. Bank. It’s a great buy and hold stock.

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Kevin said:

I agree. I was very excited to pick up WFC. Are you a WFC shareholder?

Reply

Yes I am. I’ve held shares for about 18 months. Recently I added more on the dip.

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